“To the extent that people overpay as a result of the Libor manipulation, they should be able to get their money back. Individuals who have mortgages, pension funds who had pensioner investments - whoever was ripped off is entitled to get their money back.” PeopleShouldAbleIndividualResultsInvestmentFundManipulationEntitledMortgageRippedPension Author:Peter Welch
“I have always enjoyed do-it-yourself projects, .. Being in a position to actually help design and bring tools to market is an incredible opportunity. Being able to fund charities as a result is phenomenal.” HelpingAbleOpportunityResultsDesignPositionProjectsToolsCharityIncrediblesEnjoyedFundPhenomenalDo It Yourself Author:Tim Allen
“Private-equity and hedge-fund guys typically come into a situation of mediocrity, where rapid change may result in a profit.” MayGuyResultsSituationProfitFundMediocrityEquityRapidsHedge FundPrivate EquityRapid Change Author:Austin Ligon
“In the bureaucracy, incentives will forever be inverted. Failure results in success: in more funds, more training, more time off.” ResultsForeverTrainingFundMore TimeBureaucracyIncentivesTime OffInverted Author:Ilana Mercer
“A minuscule 4 percent of funds produce market-beating after-tax results with a scant 0.6 percent (annual) margin of gain. The 96 percent of funds that fail to meet or beat the Vanguard 500 Index Fund lose by a wealth-destroying margin of 4.8 percent per annum.” LosesWealthResultsFailingProduceTaxesBeatsPercentGainsInvestingFundDestroyingMarginsAnnualsVanguardIndex Funds Author:David F. Swensen
“Experience conclusively shows that index-fund buyers are likely to obtain results exceeding those of the typical fund manager, whose large advisory fees and substantial portfolio turnover tend to reduce investment yields. Many people will find the guarantee of playing the stock-market game at par every round a very attractive one. The index fund is a sensible, serviceable method for obtaining the market's rate of return with absolutely no effort and minimal expense.” PeopleShowsGamesResultsEffortReturnMethodInvestmentRateRoundsInvestingManagersAttractiveGuaranteesFundExpensesYieldSensibleTypicalFeesBuyersObtainingPortfoliosTurnoverIndex FundsAdvisory Author:Burton Malkiel
“In every mutual fund prospectus, in every sales promotional folder, and in every mutual fund advertisement (albeit in print almost too small to read), the following warning appears: "Past performance is no guarantee of future results."” PastResultsPerformancesInvestingFollowingGuaranteesFundMutualPrintWarningAdvertisementsMutual FundFolders Author:Paul Samuelson
“Millions of mutual-fund investors sleep well at night, serene in the belief that superior outcomes result from pooling funds with like-minded investors and engaging high-quality investment managers to provide professional insight. The conventional wisdom ends up hopelessly unwise, as evidence shows an overwhelming rate of failure by mutual funds to deliver on promises.” WellsEndsShowsNightBeliefSleepResultsQualityMillionsPromiseEvidenceInvestmentRateInvestingInsightSuperiorsManagersOutcomesFundMutualOverwhelmingInvestorsConventionalEngagingSereneHigh QualityConventional WisdomUnwiseMutual FundSleep Well Author:David F. Swensen
“When you look at the results on an after-fee, after-tax basis over reasonably long periods of time, there's almost no chance that you end up beating the index fund.” LooksLongEndsChanceResultsPeriodsTaxesBasesInvestingFundFeesLong Periods Of TimeIndex Funds Author:David F. Swensen